Economy

Why are investors so desperate for a Bolsonaro win?

Why are markets so desperate for a Bolsonaro win

All polls in the second round showed far-right presidential candidate Jair Bolsonaro having a comfortable lead over Workers’ Party’s candidate Fernando Haddad. The belief that nothing could take Mr. Bolsonaro’s win away from him has excited investors and international markets. Between the first and second rounds, the São Paulo stock market gained 4.13 percent, while the Brazilian Real rose 5.27 percent – this, despite a tough international scenario, where emerging currencies are struggling. 


Why are markets so desperate for a Bolsonaro win?


On Friday, October 26, the last trading day before the election, the Ibovespa stock market index closed at 85,719.87 points, up 1.95 percent from Thursday. The U.S. Dollar lost ground against the Brazilian Real, closing the day at BRL 3.65 (a drop of 1.42 percent).